NavOne holds information on a variety of relationships with a client structure including Beneficial Owners and Controlling Persons. The information is used for a variety of purposes including the day to day administration of the client structure, AEI/FATCA/CRS reporting and also reporting for the recent Beneficial Owner regulations that have been implemented by various registries across the Globe.
Touchstone are fully engaged in ensuring that, where efficiencies can be gained by Touchstone customers e.g. by electronic interchange of information, these are implemented in NavOne.
Touchstone met with the Jersey FSC to agree on data submission details concerning the Jersey Beneficial Owners/Controlling Persons Register that will go live this Summer.
Touchstone fully expects other regulatory authorities to implement similar measures.